On July 24, the Central Bank of Russia is expected to hold its key… (ставка · ключевой · банк)
On July 24, the Central Bank of Russia is expected to hold its key interest rate steady at 14.25% or lower it to 14%. Alexander Shoikhin from the Russian Union of Industrialists and Entrepreneurs (RSPPI) argued against raising the rate due to temporary fuel shortages, calling such a move irrational. The Bank's president Elvira Nabiyullina also noted that current inflationary pressures are temporary but emphasized that the bank is not planning an easing of monetary policy in the near term.
Consensus
- The Central Bank of Russia will hold its key rate steady or lower it to 14% on July 24
- Alexander Shoikhin from RSPPI opposes raising the rate due to fuel shortages
- The situation with fuel is temporary and not expected to cause long-term inflation
Points of divergence
- Shoikhin believes that the current inflationary pressures are temporary but not necessarily leading to deflation in summer months. — kommersant
- Shoikhin suggests that if the rate stays at 14.25%, it would be unfavorable for those expecting a reduction. — vesti
Coverage (2 sources)
- Head of RSPP Calls on Central Bank Not to Raise Rates Due to Fuel Crisis — Коммерсантъ
- Shokin says raising the key rate would be wrong — Вести